Eligibility - Splitero

Check your eligibility HightlightImage

Splitero makes home equity access available to as many homeowners as possible. Review our most recent eligibility criteria below.

Homeowner

No minimum credit score

No income requirement

No more than 2 remaining liens on the property

Properties held by a trust or LLC may be eligible

Owner-occupied (including mixed-use) and non-owner occupied are both eligible

Property

Is in an eligible area of California, Colorado, Oregon, Utah, or Washington

Has an appraised value between $150,000 to $5,000,000

Max investment is 30% of your home’s value or $500,000

Is a single-family residence, condominium, townhome, or multi-family residential (2-4 units)

Eligible? Start your application today

Your credit score is one of many determining factors in the pricing and approval of a Splitero home equity investment. Pricing and approval conditions are subject to change due to changes in the market and are not based on your credit score alone.

Common questions

Will my credit be pulled, what type of pull is it, and is there a minimum credit score requirement?

There is no minimum credit score. At the time of application, we will pull your credit which will result in a hard inquiry. Your credit report will remain valid for 120 days from the date it is pulled. Your credit score is one of many determining factors in the pricing and approval of a Splitero home equity investment. Pricing and approval conditions are subject to change due to changes in the market and are not based on your credit score alone.

Am I eligible if I have an existing reverse mortgage or another shared equity agreement?

You may be eligible as long as you pay off your reverse mortgage or shared equity agreement before or through the closing of your Splitero investment.

Click here to see if the amount you may qualify for will be sufficient to pay off an existing obligation.

Are there any income or employment requirements?

No! Because a Splitero investment has no monthly payments we have no income or employment requirements. We will not ask for any documentation about employment or income.

After I receive the proceeds from the investment, are there any limitations on what I can use the proceeds for?

There are no restrictions. You may use the funds however you wish!

Can I refinance my home in the future and maintain my agreement with Splitero?

Splitero does not require payoff if you choose to refinance your home. However, some lenders may require repayment to Splitero in order to refinance your mortgage. Splitero may be willing to subordinate our lien position in certain circumstances (for example, a rate and term refinance with no cash out) provided you meet our eligibility requirements.